The first Global Digital City Forum (China) is scheduled to take place at Xiamen International Convention Center on Sept 8. [Photo/chinafair.org.cn]

The first Global Digital City Forum (China) is scheduled to take place at Xiamen International Convention Center on Sept 8, the first day of the 2018 China International Fair for Investment and Trade (CIFIT) to be held in Xiamen, Fujian province.

The forum will bring together top experts and investors in blockchain to seek solutions to the problems faced by the global and regional economy, including hundreds of chief executive officers (CEOs) of renowned Chinese and international companies and representatives of blockchain investment institutions and world organizations, such as the World Blockchain Organization (WBO).

Blockchain is an open, distributed ledger that can record transactions among different parties in a verifiable and permanent way.

Blockchain, wealth management and bio-medicine are regarded as the investment sectors with the most potential in China, while 2018 is believed as the first year of blockchain application around the world, and China is expected to be the largest market for blockchain sector in the future.

Statistics from BlockData, the first blockchain data service provider in the world, show that the development of China’s blockchain sector mainly operates in Beijing, Shanghai, Guangdong and Zhejiang, accounting for 34 percent, 21 percent, 17 percent and 10 percent of the country’s total blockchain market, while Fujian province occupies only 1 percent.

As the new technology boasts huge potential, Fujian province hopes to promote its development in financial services, real economy and construction of public utilities with the help of blockchain technology.

The forum itself will help construct the East China province into the forefront of blockchain technology in Asia and introduce China’s blockchain projects to overseas investors.

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